Elon Musk met Brazilian President Jair Bolsonaro in an upscale hotel near Sao Paulo on Friday for talks on bringing internet access to schools in the Amazon and improving satellite monitoring of the rainforest.
Mr Musk made the announcement before a meeting with Mr Bolsonaro, in a boost for the far-right leader who is facing increasing criticism at home and abroad for surging deforestation in the Amazon.
“Super excited to be in Brazil for launch of Starlink for 19,000 unconnected schools in rural areas and environmental monitoring of Amazon,” tweeted Mr Musk, who is the chief executive of SpaceX and Tesla.
The event was organised by Communications Minister Fabio Faria, who wants to use SpaceX and Starlink technologies to improve internet connections in schools and to help preserve the rainforest.
Deforestation in the Amazon has climbed to a 15-year high under Mr Bolsonaro, who pushed for more mining and farming in the region, drawing criticism from world leaders and climate scientists.
During the event, Mr Bolsonaro said the Amazon region was “really important” to Brazil.
“We count on Elon Musk so that the Amazon is known by everyone in Brazil and in the world, to show the exuberance of this region, how we are preserving it and how much harm those who spread lies about this region are doing to us,” he said.
The visit by Mr Musk, who is in talks to buy social media platform Twitter, follows a meeting in November in which he and Mr Faria discussed combating illegal deforestation.
It also comes amid the growing isolation of Mr Bolsonaro, who lost a key ally when former US president Donald Trump failed in his 2020 re-election bid.
Mr Bolsonaro was slow to acknowledge US President Joe Biden's win and has still not spoken to the Democrat since he took office, chilling relations between the two countries.
Adding to tension, Mr Bolsonaro visited Moscow for a friendly meeting with Russian President Vladimir Putin days before the February 24 Russian invasion of Ukraine, which the Brazilian leader has refused to condemn.
The Brazilian president has criticised major tech firms for their efforts to combat misinformation on social media but celebrated the news that Twitter had accepted Mr Musk's initial bid for the company. He has tried for years to lure Tesla to Brazil.
During a live-stream on Facebook, Mr Bolsonaro and Mr Musk answered questions from pupils. And although none of the pupils inquired about Mr Musk's purchase of Twitter, the Brazilian president said it signified a “breath of hope”.
“Freedom is the cement for the future,” Mr Bolsonaro said, calling the billionaire a “legend of freedom”.
Agencies contributed to this report
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
More coverage from the Future Forum
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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